All Forum Posts by: Marcy Angulo

@Alejandro Valdes who is your lender? I'd send a message thru your online account to clarify. 

All 4 of my lenders have said that they will NOT report to the credit bureaus, and that at the end of the 90 days, we'll discuss the options at that time.  

Hi Paul, every lender will be a bit different & it will be handled on a case by case depending on the borrowers situation.  But generally speaking, yes the interest will continue to accrue but no they typically don't require all 4 months to be paid at once.  Each borrower works out a plan that works with their lender (which could include payment plan, add it to the end of the loan or whatever they are able to work out with their lender).  

Just sharing the options for those who find themselves needing alternatives.  Stay safe!  

In an effort to plan ahead & in the event that my Tenants have income loss, I contacted my 5 mortgage companies and so far 4 out of the 5 have granted "90 day payment relief".  I simply sent a message through my online account & it was granted (no documentation required, just an online message or phone call).  And it doesn't negatively affect our credit, no late payment fees or anything else.  Just a thought for those who are concerned.  

I definitely agree that it's best to work with our great Tenants than to evict them, & deal with re-renting, make ready, etc.  So this was a great solution.   

Woohoo! Congratulations Manny!  Way to go Buddy!  That's Awesome that you are starting so young in real estate!  After 27 years in this business, I would highly recommend the book "Defeat Mega Agents" by Ryan Fletcher.  It is an "out of the box" raw & real book that teaches you a very different approach than what they'll teach you at the traditional brokerages.  You can order it on Amazon, but if you go on his site directly, you can get it for free (and just pay like $6 for shipping).  

https://www.defeatmegaagents.com/order-24741356

This is for the "Realtor" aspect of the business.  Once you get your feet wet as an agent, obviously, the next best step is to learn to invest.  If you haven't read "Rich Dad Poor Dad" yet, it's the Real Estate Investing book that got many of us started on the investing side.   

Best wishes to you!  You've got this!  Go get'em!! 

Thanks Wayne for all the input... it's greatly appreciated. 👍👍👍

One apparent benefit they have is that the LLC is from another State with no public record information. Nevertheless I know they need to simplify all this as they have a bunch of LLC's both in FL & out of State.

And they did also recently get an umbrella policy.   Thanks again for the responses.  Have an Awesome week.  

Thanks guys for the responses.  You guys are Awesome! 

Weston,  we'll definitely take a look at the article.... it's greatly appreciated!!! 👍👍👍

Wayne...the Equity stripping was recommended by an attorney.  They're just looking at the most cost effective way of doing it.  

As far as the Land Trust... yes, it is fair to assume that they still have an interest, but the goal is that even if it's known, it would still provide asset protection since each property will be owned by a different land trust..  (and the beneficiary is not public info so the Sunbiz search couldn't be done).  

Are we missing something? Thanks for the input.  Just trying to help them. 

My business associates have 17 rental properties, many of which are free and clear. They are in the process of transferring them into Land Trusts with their LLC as the beneficiary for anonymity & asset protection. However, what would you guys recommend to do the equity stripping? They could obviously record a Mortgage, but the stamps are about $1500 per property. They were thinking of recording a lien on the properties... but didn't know if that was a good idea or not? Any advice / thoughts would be appreciated.

Hi BP Family,

There's a luxury home in South FL that I'm going to list, but I wanted to get your ideas on creative options to possibly acquire it and/or partner with someone.  The Homeowner is willing to let someone take over the payments (which he modified & has PHENOMENAL terms of the Mortgage - see details below).  However, he does need the majority of the equity to build a new home.  He's very open to creative options, so just thought I'd put it out there to see if you guys have any creative ideas.   Here's the link to the 3D Matterport of the Home (it has about $400k in upgrades): https://omniscenic.com/3d/canyon-isles-home/fullscreen/

Photos:

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Aerial Photography:

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Aerial Video (Updated):

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